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Cyber phishing steals $1 billion from cryptocurrency investors
Cryptocurrency crimes are experiencing a serious shift, as hackers are now focusing on exploiting user mistakes instead of penetrating systems, resulting in record losses exceeding $1 billion during 2024, according to CertiK's annual report on Web3 security.
In the latest victim case, an investor lost $3.05 million in Tether (USDT) after signing a malicious blockchain transaction without verifying the contract address, in a phishing operation uncovered by the Lookonchain platform, which warned that "a single click could cost you everything you own."
These attacks rely on fake links and wallet addresses that mimic real addresses, concealing differences in middle letters to deceive victims. This year also witnessed a loss of $900,000 for another investor after 458 days of signing a malicious consent, in addition to the "wallet poisoning" incident that seized $71 million in May, before the attacker returned the amount under pressure from international investigations.
According to CertiK, 296 phishing incidents were recorded in 2024, three of which exceeded losses of $100 million, making it the most dangerous threat faced by digital asset investors this year.
Cryptocurrency crimes are experiencing a serious shift, as hackers are now focusing on exploiting user mistakes instead of penetrating systems, resulting in record losses exceeding $1 billion during 2024, according to CertiK's annual report on Web3 security.
In the latest victim case, an investor lost $3.05 million in Tether (USDT) after signing a malicious blockchain transaction without verifying the contract address, in a phishing operation uncovered by the Lookonchain platform, which warned that "a single click could cost you everything you own."
These attacks rely on fake links and wallet addresses that mimic real addresses, concealing differences in middle letters to deceive victims. This year also witnessed a loss of $900,000 for another investor after 458 days of signing a malicious consent, in addition to the "wallet poisoning" incident that seized $71 million in May, before the attacker returned the amount under pressure from international investigations.
According to CertiK, 296 phishing incidents were recorded in 2024, three of which exceeded losses of $100 million, making it the most dangerous threat faced by digital asset investors this year.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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